home q&a part 1 | did we bto? why did we choose a 4-room hdb? walking you through the process.
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- เผยแพร่เมื่อ 15 ส.ค. 2020
- hello! :~) we are back with a home q&a video because we received many questions after you guys saw our home tour video.
this is part 1, where we walk you through our journey of getting our home in the re-offer of balance flats exercise (ROF) and where we also answer some questions about the hdb application process. we will be back next week for part 2 of the q&a where we answer questions related to the renovation and our finances.
we apologize if we got some parts of the process wrong and if we were unclear in any of our explanations because we aren't exactly experts in this year. BUT i've linked below some articles from the experts that will be helpful to read as you go about applying for your own flat:
HDB exercises:
1. BTO, SBF, ROF, DBSS, EC (property guru) - www.propertyguru.com.sg/prope...
2. SBF vs. BTO (redbrick) - www.redbrick.sg/blog/5-things...
3. SBF and ROF (moneysmart) - blog.moneysmart.sg/property/h...
application process:
1. application guide (seedly) - blog.seedly.sg/singapore-step...
2. application guide (NTUC income) - www.income.com.sg/blog/guide-...
taking loans:
1. HLE eligibility (HDB) - www.hdb.gov.sg/cs/infoweb/res...
2. HDB loan vs. bank loan (seedly) - blog.seedly.sg/the-complete-g...
3. HDB loan vs. bank loan (HDB) - www.mynicehome.gov.sg/article...
option to purchase:
1. what is "option to purchase"? (99.co) - www.99.co/blog/singapore/prop...
grants:
1. moneysmart - blog.moneysmart.sg/property/c...
2. HDB - www.hdb.gov.sg/cs/infoweb/res...
3. dollars and sense - dollarsandsense.sg/complete-g...
staggered downpayment scheme:
1. HDB - www.hdb.gov.sg/cs/infoweb/res...
payments required during the entire process:
1. 99.co - 99.co/blog/singapore/99-co-guides-paying-bto-flat/
2. singsaver - www.singsaver.com.sg/blog/cos...
home protection scheme:
1. CPF - www.cpf.gov.sg/Members/Scheme...
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instagram: @hillaryarieltan
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music by Mark Generous - Meganne - thmatc.co/?l=DF3A01BE
hello! for those of you who are looking for part 2, it is now up and you can watch it here: th-cam.com/video/V2I0nQPdBR8/w-d-xo.html
in part 2, we talk a bit more about renovation and money woes, so hop on over to check it out and do subscribe to my channel if you've been enjoying my videos! :~)
I love how informative this video is!!
Thank you for the in-depth explanation! I really appreciated it! It’s very eye-opening!
Thanks alot for sharing, and the links as well!! I love your cosy and simple home :)
no problem!! glad it was helpful 😊
Thank you so much for your detailed explaination!
This is so helpful.
no problem! 😊
Great Job. Thanks a lot
thank you!
I’m student as well! I’m currently pursuing a degree in Sit! I would love to hear about how you are managing your studies as well as your married life.
glad this video was eye opening for you!! and thanks for leaving your suggestions :’) really appreciate it!! i’ve actually graduated and been working for the past year hehe.
Hi hi! I'm very confused as you said you recieved grants for your down-payment, yet its is not enough to cover the legal fees stamp duties so u have to fork out cash?
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wow such quality content! Thanks for sharing with us your experiences:)
no problem!!! haha thank you friend
Hi! :) May i ask, did you guys manage to get the full 90% of the flat's purchase price for the HDB Loan? If you did, how did you get the full 90%? Thank you!!!!
Love the informative video btw:)
hi darius, we didn't get the full 90% but we had grants that were enough to cover the payment that we were supposed to made outside of the hdb loan that was granted to us
@@hillaryarieltan Hi thanks for replying! So does this mean that not all applicants will be granted a 90% loan from HDB?
@@MetalMadnessss i dont think all will be granted 90%, really depends on their assessment of your financial situation!
@@hillaryarieltan okay thank you!
You're wrong, everything can be paid through CPF during the signing of the lease agreement including the payment for stamp duty and conveyance fee.
I think your information is abit wrong. One can use CPF to offset stamp duty, doesn't have to use cash. If stamp duty you guys have to use cash to pay, that means the both of you combined CPF at that point of time is not even enough to cover this $4k? HDB told me (just last week) as long as your cpf have enough money to pay for downpayment+duty fees, one can use cpf to offset everything. But understand because you guys are still studying back then. Would be nice to share a video tips on your current financial management and how much per month for mortgage.
hi andy, oh my yes thanks for correcting!! you’re right! paying by cash was unique to our circumstance back then 😅 thanks for the video suggestion too!!
Hii, do you guys get to view the flat before paying the option?
hello! unfortunately, no. i don’t think it’s an option if you buy under the open round!
How to apply for bto? Izzit complicated during the opening?
hello! i think it can be daunting at first but there are many guides and articles out there to help you along 😊
SISS WHERE ARE YOUR ADSSSS. These are quality contents. I am no where near to buying a house but at least I am aware about these now. Thank you 😊 you need to start earning money off ad revenues on these quality videos.
haha aww thank you! i’m glad that you learnt sth from the video! ☺️ sadly i don’t qualify for that yet, there’s a criteria before we can register to have ads in videos. maybe you can help me out by subscribing to my channel heheh :~)
hillary ariel sure!! Subscribed!! Best of luck and stay safe!!
hello! thank u for this informative video hehe, just a question how did u guys manage to pay the first 5% downpayment? :) since you were still schooling and your husband was interning + working for a short period of time :) thank u and God Bless!!!!
hello, no problem and glad you found it helpful!! 😊 the grants that we got were more than enough to cover the downpayment cos we got quite a large amount and also cos our flat wasn’t too expensive. i’ll be uploading a part 2 next week, where we talk a bit about our finances. you can check it out if you’re keen to find out more ☺️
hillary ariel alright sure, looking forward!!🥰 also i think u guys stay near me HAHA which is dope
oooo hello neighbour 😄
Don’t you have to be working 12 months to get the grant ? So internship doesn’t count ? Please do clarify. Thanks !
hi leon, yes that’s the criteria that’s stated on the hdb website! we briefly shared in the video that we actually didn’t meet the criteria because neither of us worked full-time continuously for a year. my husband did an internship for 7 months, took a break for 3 months, then worked full-time for 6 months. we sent in an appeal and somehow we managed to get the grant! 😯 we got a higher amount than expected, and it seemed to us that the only way that it could have been higher was if they took into account his internship pay. BUT with that being said, these are all our guesses cos hdb didn’t communicate much to us during the process. they only acknowledged our e-mail saying that we hoped to appeal for the grant and eventually said that we got the grant 😅 hope this clarifies!
Wait... Can we book the balance unit any time through out the year? How? Can share with me more? I failed the May 2021 Balance sale, and I urgently need a house to bring my daughter back from Malaysia... :( Please tell me more.
hihi, since the time i got my flat till now, there have been some changes to the system. i think it would be faster and more accurate if you called in to hdb to enquire! :)
@@hillaryarieltan I tried, they only tell me to wait until Nov. no longer open through out the year. :( Cry out loud loud.
@@dsignerer oh i see... must be a real tough situation to be in. praying that you will find a suitable arrangement for you and your family!
@@hillaryarieltan Hi Matt & Hills, just wonder if you know what if the HDB loan expired? my loan valid until August, but the next balance sale will come only @ Nov... Can I just apply again or there will be any punishment or fine? :(
Home is where the heart is...doesnt matter what HDB type...
Hello Hillary! May I know when does the grant $$ kick in for you guys? Will the grant $$ be able to cover the first downpayment for you guys? ☺️
hihi!! i cant recall the exact timing that we got it, but we did get it before the first downpayment had to be made and we used the grants to pay 😊
First comment! =p
I paid for a 5 room resale flat stamp duties fees at 12k. Thats the bad thing about buying resale flat because the stamp duties is calculated from the resale price..and not the initial bto price of the flat...thus really inflated stamp duties.. so whoever is buying a resale flat, got to note about this.
oh my HAHA thanks for sharing this piece of info! it’ll be helpful for those who’re looking to get a resale. i never knew that the fees could go up to so high!!!
@@hillaryarieltan yup. My flat cost $565k.. so the stamp duties is calculated by percentage wise..I think first 200k is 1 or 2 percent, the following 100k is 2 or 4 percent. So on and so forth.. so the higher price it is, the higher stamp duties. For first time couples who are just starting out, have to factor in these cost in their cpf oa.